Lasse B. Lien

Lasse B. Lien
NHH Norwegian School of Economics | NHH · Department of Strategy and Management

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34
Publications
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492
Citations

Publications

Publications (34)
Article
Full-text available
Koronakrisen har medført store endringer for bedrifter over hele verden. Noen bedrifter har brukt innovasjon aktivt for å håndtere krisen. Nye utfordringer ble møtt med nye løsninger, mens andre i mindre grad responderte med innovasjon. Ved hjelp av to studier gjennomført siste året foretar vi i denne artikkelen et dypdykk i hvordan og i hvilken gr...
Preprint
Full-text available
The innovation persistence literature focuses on whether firms reduce, increase, or maintain their innovation activity over time, and in particular through cyclical downturns and crisis periods. This literature mostly addresses whether firms accelerate or decelerate their pre-crisis innovation agenda during these periods. What it tends to underemph...
Article
When demand drops in an economic crisis, managers rely on an arsenal of demand-side responses to retain existing customers or attract new ones. However, some strategic responses are likely to be more effective than others. Furthermore, the most effective strategic response presumably depends on firm-specific characteristics that are often elided in...
Article
Full-text available
Does digitalization make competitive advantage more or less sustainable? One line of argument is that digitalization leads to hyper-competition and shorter spells of competitive advantage. An opposing claim is that digitalization leads to advantages of a size and sustainability unprecedented in the “old” economy. We argue that the likelihood of obs...
Article
Research summary Ownership is fundamental to firm strategy, organization, and governance. Standard ownership concepts—mainly derived from agency and incomplete contracting theories—focus on its incentive effects. However, these concepts and theories neglect ownership's role as an instrument to match judgment about resource use and governance with t...
Article
We examine how firms alter their investment behavior in response to changes in demand and access to credit during recessions. We compare and contrast investment changes in physical assets, R&D, and human capital. We find that firms tend to shield R&D investments from transitory fluctuations in demand and that R&D investments are more sensitive to c...
Article
Research summaryWe examine how firms' relative emphasis on exploration and exploitation influence their human capital responses to recessions. We hypothesize and find that the higher the focus on exploration, the more firms invest in training, the more likely they are to hire, and the more likely they are to lay off employees during a recession. Fi...
Article
The relevance of finance for strategy is probably never greater than during a recession. We argue that the strategy literature has been virtually silent on the issue of recessions, and that this constitutes a regrettable sin of omission. Recessions are also periods when the commonly held view of financial markets in the strategy literature - effici...
Article
We document how the recession in the wake of the financial crisis created a general surge in pro-change attitudes and behavior. Next, we examine variation across firms with respect to this change boost. In particular we focus on how and why a firm’s use of HR-measures such as training, pay changes and layoffs matters. We find that training and layo...
Article
The survivor principle holds that the competitive process weeds out inefficient firms, so that hypotheses about efficient behavior can be tested by observing how firms actually behave. This principle underlies a large body of empirical work in strategy, economics, and management. But do competitive markets actually display what is efficient? Is the...
Article
How do diversifying firms chose their target industries? We use two population-level samples and new measures of relatedness to decompose the determinants of diversifying entry into internal factors (firm-specific resources and capabilities) and external factors (industry attractiveness). Our approach captures a variety of sources and types of rela...
Article
Full-text available
Changes in ownership titles are essential to understanding competitive dynamics and, more broadly, the market process. There is ample evidence that a crucial source of productivity growth, and hence wellbeing, is due to the reallocation of inputs and outputs from less to the more productive firms. Furthermore, ownership is essential in stimu-lating...
Article
This paper reports two new empirical regularities concerning industry concentration. First, concentration levels closely correlate in related industries. Second, the correlation is moderated by the degree of relatedness between the industries. These regularities are derived from the Trinet database, using a survivor-based measure of relatedness. We...
Article
Full-text available
The conventional approach to measuring interindustry relatedness uses the Standard Industrial Classification (SIC) system to capture the “distance” between industries. Although relatedness measures based on SIC codes (or equivalent classifications) are readily available and easy to compute, they do not screen effectively for the conditions under wh...
Article
We review theory and evidence on corporate diversification, industry structure, and firm strategy from an organizational economics perspective. First, we examine the implications of transaction cost economics (TCE) for diversification decisions. TCE is essentially a theory about the costs of contracting, and TCE sheds light on the firm’s choice to...
Article
The conventional approach to measuring inter-industry relatedness uses the SIC system to capture the "distance" between industries. While relatedness measures based on SIC codes (or equivalent classifications) are readily available and easy to compute, they do not screen effectively for the conditions under which related diversification creates val...
Article
While the strategic management literature suggests that related diversification is superior to unrelated diversification, there is little evidence that acquirers benefit from pursuing related targets. We argue that the empirical literature is plagued by poor measures of relatedness. Moreover, many empirical studies do not control adequately for the...
Article
The conventional approach to measurement of inter-industry relatedness relies on distances in the SIC-system as a proxy for the relatedness between industries. While the SIC-system (or equivalent classifications) are readily available and easy to compute, they have drawn criticism for being unable to screen for the theoretical conditions required f...
Article
Over the last two decades numerous procedures for measuring relatedness have been suggested, primarily driven by the inability of our empirical research to demonstrate consistent support for the hypothesized relationship between relatedness and corporate performance. The main problem by most accounts is associated with measuring relatedness in a ma...
Article
Full-text available
Which type of firm is more innovative: the decentralized, diversified corporation or the smaller, more narrowly focused "entrepreneurial" firm? According to one argument, diversi-fied corporations can do more R&D because their operating units have access to an internal capi-tal market. Other writers argue that decentralized, diversified firms over-...
Article
Full-text available
A core proposition of the resource-based view of the firm is that firms tend to diversify into related activities, and that related diversification tends to outperform unrelated diversification. The empirical evidence on relatedness, and its effect on performance, is far from conclusive, however. We use a detailed line-of-business sample to examine...

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